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trading house

商会 ／ trading-house　—　People & places

Trade carried on as an organisation; the forerunner of the company.

Kingdom of the Two Sicilies, Ferdinand I, 15 Ducati, 1818 Kingdom of the Two Sicilies, Ferdinand I, 15 Ducati, 18181818 Austrian Empire, 1 Thaler, 1820 Austrian Empire, 1 Thaler, 18201820 Empire of Brazil, Pedro I, 960 Réis silver coin, 1825 Empire of Brazil, Pedro I, 960 Réis silver coin, 18251825
A photograph of the real thing this term names.

⚠ Families and associates pooled their capital and shared the responsibilities of long-distance trade. By creating a structure to distribute losses, they enabled commerce on a scale that was impossible for a single individual to undertake.